Discussion:New to taxes - need advice on starting my own tax business in Arizona

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Discussion Forum Index --> User Introductions --> New to taxes - need advice on starting my own tax business in Arizona


Viktoryv1 (talk|edits) said:

10 October 2012
Hello everyone,

I have recently passed the CPA exam and plan on starting my own tax/bookkeeping business in the near future. I do not have much experience working with taxes, but find it very interesting and I also enjoy working with people and helping anyone I can with financial advice. I have worked 2 years for a mid-size company doing their AP, AR, reconciliations, etc. and 2 years doing financial reporting for mutual funds. As a side project I have helped a local small business owner with her books and currently taking a course with a tax shop (like H&R) to gain some experience in individual tax prep.

I am still working full time with Mutual Funds and plan on building up my tax/bookkeeping clientele as a side project.

For those that have started their own tax business, would you recommend that I pursue this on my own and just learn as I go? Or, should I go work for a firm to gain experience?

Any advice would be greatly appreciated!

Bottom Line (talk|edits) said:

12 October 2012
You should learn a decent amount from the course at the tax store (much as some here may disagree with me). I'd suggest working for the tax store this coming tax season. You'll learn something about taxes and A LOT about people. Get a lot of continuing ed hours and get the demos of various types of tax software so you can choose which you prefer. (You may find that changing software and learning a new software program is a time consuming exercise you don't want to go through every year.) You will always be learning the tax code since it is always changing. That said, I'm sure that come April 16, you'll be impressed by what you have learned in less than 3-1/2 months of doing taxes.

Lmilton01 (talk|edits) said:

8 November 2012
If you are interested in starting your own Tax Business contact someone at our office they will be happy to assist you with everything you will need.

TTMM (talk|edits) said:

8 November 2012
Hi ViktoryV1. Welcome to the AZ tax business. If you look at my profile you will see that I am in AZ too. I agree with Bottom Line about working in a tax store this season. You'll need the experience working with those who are elderly, military or those not legally working in the country.

Being in AZ you should also get some experience with construction companies. Especially AZ transaction privilege tax issues. If you don't know how it works, you should learn. ADOR used to have seminars on occasion that would go through the mechanics of it. It seems like the cost was $25-$30.

You could also go around to some of the bigger accounting firms in town and leave your business card. The firms that do SEC work always need bookkeepers to help "tidy" up the books before they do the audit. If you are doing work with mutual funds, you might also network at some of the stock broker seminars for people looking for a personal bookkeeper to help keep their investments organized. I have a couple of people I meet with quarterly to do this.

Good Luck!

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